The Commonwealth Bank's Awards program offers points for every $1 you spend on eligible purchases made with a CommBank Awards credit card. You can redeem these points for rewards including travel, shopping, gift cards and frequent flyer points.
So if you have a CommBank Awards credit card or are thinking of getting one, here's a rundown on how the program works – including how to earn and use points and how to get as much value as possible.
If you have a Commonwealth Bank Awards credit card, you will earn points for your everyday spending. These points are automatically added to your CommBank Awards account, which you can access by logging into NetBank or the CommBank App.
| Credit card | Earn rate | Points cap (per year) |
|---|---|---|
| CommBank Awards | 1 point per $1 on eligible spending | No annual points cap |
| CommBank Ultimate Awards | Spending up to $10,000 in a statement period:
Spending above $10,000 in a statement period:
| No annual points cap |
| CommBank Smart Awards | Spending up to $5,000 in a statement period:
Spending above $5,000 in a statement period:
| No annual points cap |
| CommBank Business Awards | 1 point per $1 on eligible spending | 60,000 |
Most everyday spending will earn points, including shopping at the supermarket, buying petrol or paying for dinner. Transactions that aren't eligible for points include BPAY payments, cash advances and payments made to the Australian Taxation Office (unless made with a CommBank Business Awards card).
You can redeem your points for a range of rewards across the following categories:
Note that minimum and daily maximum point limits apply and are subject to the terms and conditions of the CommBank Awards program.
You can transfer CommBank Awards points to partnered frequent flyer programs including Velocity Frequent Flyer, Emirates Skywards, United Airlines MileagePlus and Qatar Airways Privilege Club.
With Velocity Frequent Flyer, every 2 CommBank Awards points convert to 1 Velocity Point. With Emirates Skywards, every 4 CommBank Awards points convert to 1 Skywards Mile.
The transfer rates for other frequent flyer programs are not publicly listed, but you will see details when you log in and follow the steps to make a transfer.
As of August 2023, customers with a Commbank Awards card cannot transfer Award points to the Qantas Frequent Flyer program. If you have already opted in before this, there is a $60 fee each year. You'll then earn Qantas Points per $1 instead of CommBank Awards points, with an earn rate that's equivalent to 2.5 CommBank Awards points per 1 Qantas Point.
As an example, if you had a card that earned 1 CommBank Awards point per $1 and opted in to earn Qantas Points, you'd earn 0.4 Qantas Points per $1 instead.
Want to get more Qantas Points with a credit card? Check out the latest bonus point offers.
There is no fixed value for CommBank Awards points because each reward has a different dollar value. This is the same with most reward programs that offer a mix of different rewards.
The CommBank Awards program also doesn't list details of how many points you need for different rewards unless you log in to your account. But once you've logged in, you can work out the value of your points by dividing the dollar value of a reward by the number of points needed to redeem it.
You can also use Finder's guide to calculating the values of rewards points as a cheat sheet.
Always choose rewards that you want or need so you can at least save some cash. If there's nothing you want, just keep saving up points.
If you're a member of a frequent flyer program, you could also transfer your points for flight rewards – which can offer more than $20 value per 1,000 frequent flyer points.
You can redeem your points in a few steps:
With any rewards credit card, there is a chance that the card's costs will outweigh the value you get from any bonus points, rewards and other perks. So here's what to think about before you apply.
CommBank Awards is a popular credit card rewards program, but there are many others on the market. So when considering a CommBank rewards credit card, remember to compare your options among other rewards credit cards. Also weigh up the potential costs of a card in comparison to its potential benefits before deciding if it will be the most suitable one for you.
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A level up from the CommBank Awards Credit Card, this card offers no foreign transaction fees, international travel insurance and airport lounge access. Compare its other features here.
With 0% foreign transaction fees and up to 1.2 points per $1 spent, how do the features on this CommBank credit card stack up?
One of the few no interest credit cards on the market, the CommBank Neo has a monthly fee instead. Find out more in our comprehensive review.
With an ongoing $0 monthly fee, no foreign transaction fees and 10% back (up to $500) with Travel Booking, is CommBank Ultimate Awards right for you?
The Commonwealth Bank Business Low Rate card offers a competitive interest rate on purchases and no annual fee, plus no additional cardholder fee.
Compare the eligible Commonwealth Bank Awards credit cards that earn Qantas Points.
The Commonwealth Bank Awards credit card offers points, a flexible rewards program and a competitive annual fee.
The CommBank Low Fee credit card combines an ongoing monthly fee waiver with up to $300 cashback offer when you meet the spend requirements.
The CommBank Low Rate Card offers $600 cashback, with other basic features.
Can I earn rewards points on a comm bank credit card to use in conjunction with my Emirates Skywards programe. If so which is the advised credit card to use.
Hi Terrence,
You can currently convert 4 CommBank Awards points to 1 Skywards Mile with a CommBank Awards, CommBank Platinum Awards, CommBank Diamond Awards or CommBank Ultimate Awards credit card. You can compare details of these cards in this guide or look at Finder’s Commonwealth Bank Credit Cards guide to help you choose a card. Hope that helps.
I am confused how to claim Quantas points are they automatically transferred to the account? what do I have to do to have this transferred, I believe I use to have this automatically as before or has this all changed?
Hello Jancey,
Thank you for reaching out to us.
For you to convert your CommBank Awards points to Qantas points, you will need to manually opt-in to Qantas Frequent Flyer Direct rewards program. Once enrolled, you will need to pay $30 each year then your points will be automatically credited to your Qantas frequent flyer account monthly.
You may visit our guide to the Qantas Frequent Flyer Program to know how to join the program. You can also review your card’s Product Disclosure Statements/Terms and Conditions for more details.
I hope this helps.
Let us know if there is anything else that we may assist you with.
Cheers,
Ash